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More Random Thoughts

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May peace be with you!

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  • The Spankees?

  • "Another new buy signal today for the Amex Oil Index (XOI) with the move through 1055. The PHLX Oil Service Index OSX will need to push above 176 to trigger a new buy signal (the long-term vertical price count remains 216, however)." -- Pepe Depew on today's Buzz.

  • With volatility (by and large) on the cheap, Hoofy may wanna look at using these depressed levels to his advantage. He could do that via married puts (which turns stock into a synthetic call option) or outright stock replacements. Or he can simply roll up his stops and define his exposure, which is both smart and disciplined.

  • The action in Google (beta), the brokers (acne) and the breadth (2:1) are the biggest feathers in Hoofy's headdress today. The trannies (-1%), BKX 100 and, ultimately, S&P 1250 are in Boo's back pocket.

  • How does anyone return a 130 MPH serve?

  • Déjà vu.

  • "With Gold again flirting with that (so far) impenetrable $450 level, we take a look at the Canadian dollar.

    The Canadian dollar is flirting with twelve year highs against the U.S. dollar. The last rally in the CD vs. the USD led to a $25 rally in gold." -- John Succo on today's Buzz (position in gold)

  • Leadership? Energy and metal equities are en fuego again.

  • Nuts!

  • I'm still short Charles Woodson and Warren Sapp.

  • Boo's two biggest levels (BKX 100 and S&P 1250) remain firmly in place and will seem like obvious obstacles if this trade begins to fade. Still, and as I told the brusk bear yesterday, he's gotta respect the potential for a long squeeze if we don't slip meaningfully. If there's one thing that portfolio managers hate (other than Reg FD), it's underperformance. It's the ol' OPM thang (other people's money) but it's part of the process.

  • I wanna buy a dinosaur and name him "Risk."

  • While you know we respect the action in the brokers, the BKX is offering a classic "non-confirmation" of this retest of S&P 1250. While this is partially a function of the migration to energy and metals, it's a flag nonetheless.

  • Snappage! The homies and Sears Holdings (SHLD) are springin' back from yesterday's slack.

  • I would be lying if I said that the anniversary of September 11 isn't going to affect me. I was pretty proactive in dealing with the psychological ramifications of seeing, feeling and experiencing that awful day but it still lingers in my subconscious.

    In the four years since that fateful day, the world has become an increasingly complex and complicated beast. And, somewhere along the line, many financial professionals forgot the lessons we learned when we pulled together and fortified our stronghold of human capital.

    I plan on surrounding myself with those I love on Sunday while truly appreciating the blessing that is life. And I'm going to channel my energy into a positive place and try to help those less fortunate. We are shaped by our experiences, my friends, and nobody ever said it was gonna be easy.

    But as a wise man once said, the greatest wisdom is often bred as a function of pain.


  • Have a peaceful weekend.



    R.P.
    B.M
No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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